Bitcoins Will Establish New Economic Aristocracy | TigerDroppings.com

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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
14967 posts

Bitcoins Will Establish New Economic Aristocracy


quote:

Thus, Bitcoin is only “peer-to-peer” in the sense of the British Peerage system. Bitcoin “commoners” must appeal to their “lords” who have sufficient means to judge on validity of transactions and to seal those transactions as valid, likely for a fee." (LINK )
Would any of the Bitcoin advocates care to refute this criticism of Bitcoins? This criticism flies in the face of the arguments about the libertarian nature of Bitcoins.



This post was edited on 4/24 at 10:50 am



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gizmoflak
Georgetown Fan
Member since May 2007
8966 posts

re: Bitcoins Will Establish New Economic Aristocracy


His concluding statement:

quote:

Honestly, I also wish somebody would disrupt VISA/MasterCard a little bit.








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gizmoflak
Georgetown Fan
Member since May 2007
8966 posts

re: Bitcoins Will Establish New Economic Aristocracy


quote:

Blacklisting coins might create further repercussions.


This is a valid point.

How will coins that are known to be stolen be treated?

ETA: it wouldn't be hard to maintain a master list of tainted/disputed coins. What happens when every last coin is tainted? lol



This post was edited on 4/24 at 10:29 am


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Cmlsu5618
McNeese State Fan
Destin, FL
Member since Sep 2010
2186 posts

re: Bitcoins Will Establish New Economic Aristocracy


I feel like if people wasted as much time on their personal finances as they did on Bitcoin speculation, we would all be better off.

Bitcoins are cool, sure. But they are a completely unregulated, floating currency that is subject to a brand new market. Huge uncertainty, huge risk. I'm sick of hearing about it frankly.






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gizmoflak
Georgetown Fan
Member since May 2007
8966 posts

re: Bitcoins Will Establish New Economic Aristocracy


Don't open the thread then





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gizmoflak
Georgetown Fan
Member since May 2007
8966 posts

re: Bitcoins Will Establish New Economic Aristocracy


quote:

quote:

Thus, Bitcoin is only “peer-to-peer” in the sense of the British Peerage system. Bitcoin “commoners” must appeal to their “lords” who have sufficient means to judge on validity of transactions and to seal those transactions as valid, likely for a fee." (LINK )


Would any of the Bitcoin advocates care to refute this criticism of Bitcoins? This criticism flies in the face of the arguments about the libertarian nature of Bitcoins.



How can a British commoner become a British lord? He can't

How can a bitcoin "commoner" become a bitcoin "lord"? Buy hardware and become a node






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